Form 4: Clarence Otis Jr. Reports Acquisition of Verizon Phantom Stock
SEC Form 4 Filing
Director Clarence Otis Jr. reports acquiring 5,224 shares of Verizon phantom stock through a deferred compensation plan.
Summary
- Clarence Otis Jr., a director of Verizon Communications Inc., reported a transaction on March 1, 2024.
- He acquired 5,224 shares of phantom stock through a deferred compensation plan.
- Following the transaction, Otis beneficially owns 124,971 shares of phantom stock indirectly through the deferred compensation plan.
- Each share of phantom stock is equivalent to one share of common stock and is settled in cash upon termination of service as a director.
- The reported transaction was filed on March 5, 2024.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, so the sentiment is neutral.
Future Outlook
The phantom stock becomes payable following the reporting person's termination of service as a director.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Key Dates
| Date | Description |
|---|---|
| 03/01/2024 | Date of transaction: Acquisition of phantom stock. |
| 03/05/2024 | Date of filing: Form 4 filing date. |
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